Feb 27, 2025 / 09:00AM GMT
Erik Sneve - Magnora ASA - Chief Executive Officer
Good morning and welcome to Magnora's Q4 and combined annual report for 2024. Highlights of the year and the quarter.
Magnora returned net profits of NOK 579 million to our shareholders, including the effect of the emerging Hermana with the IPO in June last year. The continuing operation generated NOK 282 million in 2024. Magnora sold its shares in Helios and received 16 times return on investments, not counting for future earnouts. We also received the first milestone payment for Evolar, which increases the chances for a second and last payment.
Magnora grew its landbank net for Helios to 6.3 gigawatts in 2024, all based on organic growth. We've had a good start of the year and the last month we've signed more land and it's now close to 7.5 gigawatts. Based on the high origination activity, we raise our guiding to 10 gigawatts. Magnora entered the Italian and German markets in Q4 2024, and we rapidly built operating businesses in those countries. For the first time, Magnora has mid-sized and large projects that offer substantial revenue
Q4 2024 Magnora ASA Earnings Call Transcript
Feb 27, 2025
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